In Light of ITT Closures, NASFAA to Resume Collaboration to Aid Affected College Students

Volunteers On-Hand to Offer Guidance to Students Displaced by School Closures

ITT Educational Services, Inc. (ITT) earlier this month announced that it would close its more than 130 campuses in 38 states, citing recent actions taken by the Department of Education (ED) that effectively barred the institution from participating in Title IV programs, imposed enhanced federal oversight, and restricted compensations for the company’s top executives. The closures will impact about 45,000 students who were enrolled at ITT, including tens of thousands of federal student loan borrowers who are left asking, “What do I do now?”

To assist borrowers stuck in this unfortunate situation, the National Association of Student Financial Aid Administrators (NASFAA) today resumed its collaboration with Beyond 12 in an effort to connect these displaced students with volunteers who are knowledgeable about financial aid and higher education.

While ED has provided some guidance for displaced students, many of whom may qualify for federal loan discharge based on borrower defense to repayment, there is a huge gap in financial aid knowledge for this population. Financial aid administrators from NASFAA member institutions will serve as volunteers from September-December 2016, providing unbiased assistance, answering general financial aid program questions, and helping students to determine their eligibility for federal student loan discharge.

Affected students seeking counseling through the partnership must submit a request for assistance via NextStepsEdu.org. Once there, they may submit a “help ticket” and can expect a response from a financial aid administrator within 10-12 business days.

“Sudden campus closures are detrimental to the lives and educational pursuits of students,” said NASFAA President Justin Draeger. “We are thankful for financial aid administrators who are volunteering their time to help displaced students navigate their future pathways.”

NASFAA will continue to share updates on this effort as they become available. For more information, or to request an interview with a NASFAA spokesperson about the collaboration, email news@nasfaa.org.

About NASFAA

The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 20,000 financial aid professionals at nearly 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every ten undergraduates in the United States. Based in Washington, D.C., NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators. For more information, visit www.nasfaa.org.